Dog Barks

670 square feet. 1 bedroom 1 bathroom. Palo Alto bordering neighborhood. 1.4 million dollars. Termed "not unreasonable" by local broker because you know, "the average home price here is now 3.3 million".

i'm old enough to remember when Boston cratered and the west coast followed in the credit crunch of the early 90s. Homes in the Pacific Palisades area of LA traded at 50% of replacement cost before prices rebounded. Unlike the disaster that would follow in the first decade of the 21st century, the middle of the country held up ok while the NE and the West got a lesson in gravity.